Vendor Analysis
published on Aug 08, 2023
Report Overview:
This NelsonHall assessment analyzes AscentHR's offerings and capabilities in Next Generation HCM Technology
Who is this Report for:
NelsonHall’s Next Generation HCM Technology Vendor Assessment for Ascent HR is a comprehensive assessment of Ascent HR’s HCM platform offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of HCM Technology and identifying vendor suitability for HCM Technology RFPs
- Vendor marketing, sales, and business managers looking to develop strategies to target service opportunities and benchmark themselves against their peers
- Financial analysts and investors specializing in the HR Technology sector
- HR and Payroll decision makers.
Scope of this Report:
The report provides a comprehensive and objective analysis of Ascent HR’s Next Generation HCM Technology services, offerings and capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization, including delivery centers.
Key Findings & Highlights:
NelsonHall’s vendor assessment analyzes Ascent HR’s offerings and capabilities in HCM Technology services. AscentHR, founded in 2002 and headquartered in Bangalore, India, is a privately held HR technology and services company. The company entered the payroll services market in 2003 when it launched its proprietary PowerPay platform.
AscentHR provides the following managed services and solutions:
- HR consulting services: HR outsourcing and transformation; recruiting and sourcing strategy; compensation and benefits; training, education, and development; workforce management; performance management; separation management; HR policy; and M&A advisory on HR
- HR outsourcing services: managed payroll services, benefits administration, HR and payroll compliance, HR policy administration, contact center, and welfare trust services
- HR technology: consulting, implementation, and management for its proprietary, cloud-based, multitenant, fully integrated HCM and payroll platforms:
- StoHRM: HCM suite supporting core HR, leave, time and attendance, payroll, recruiting, learning, performance management, workforce planning, succession planning, analytics reporting, and self-service
- Lexcare: HR compliance platform
- PowerCRM: CRM platform for service inquiry management
- PowerPay: multi-country payroll platform (supporting 35 countries natively; extended to ~74 through partners)
- HRBerry: employee and manager self-service module
- ELSA: learning enablement system.
AscentHR supports its StoHRM technology offering through its delivery centers across APAC, with ~70 full-time resources dedicated to development, implementation, consulting, sales, and support, including in Bangalore, India (primary) and Manila, the Philippines. It targets emerging large and midsized firms with ~500 employees headquartered in APAC and the Middle East to adopt its StoHRM HCM technology. Ascent HR supports ~190 clients in ~34 countries through the platform. 82.5% of its clients are based in India. However, the platform is highly scalable and multi-cloud (so it can be hosted in any country or any cloud platform), making adoption by clients of any size across multiple geographies of operation possible.